Cobalt High Speed Drill Bits These Reduced Shank Heavy Duty High Speed 135° Split Point Bits contain 8% Cobalt. The cobalt content adds high abrasion resistance to the bit's hard working properties. Reduction in friction means less heat build up; therefore, they keep their cutting edge and last longer than non-cobalt high speed bits. Cobalt bits produce excellent results when drilling space age alloys such as stainless. Manufactured in the U.S.A.